The U.K.’s Premier League has forced News Corp.’s 40%-owned BSkyB to cut its stake in soccer team Manchester United to 9.99% from 11.1%. The League said that BSkyB, which also holds 9.9% in rival Leeds United, must own less than 10% of Manchester United if it wants stakes in both clubs. BSkyB sold 2.9 million shares, or 1.13% of Manchester United, Tuesday. The U.K. pay TV giant waged an unsuccessful $1 billion takeover bid for the team earlier this year.
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American depository receipts of NDS Group, a U.K.-based company owned by News Corp., are going strong after the company raised $180 million in an initial public offering Tuesday. The shares closed up $8 at $28 per share in Nasdaq trading. NDS provides digital pay TV operators with systems that scramble signals to stop unauthorized access as well as with software and other services.
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Time Warner said its Warner Bros. Studio Stores has opened the first Time Warner Media Break, an “interactive media experience,” on the fifth floor of its flagship Fifth Avenue location in New York City. The space features flat-screen TVs, listening domes, Internet stations, LED reader boards and video walls, plus a Starbucks.